Criteria | Aldermere | TMW | BM Solutions | Leeds | Mortgage Trust | Natwest | Northern Rock | Platform | Principality | Godiva
Disclaimer - Lenders criteria is subject to changes at times.
Therefore site owner is not responsible for inaccuracies and
mistakes in this table of lender criteria. Please double check
in criteria with the lender before you make any decision
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Paragon |
Rental Calculation | 125 % at pay or reversion rate (whichever is higher) | 125% at pay rate | 130 at 5.99% | 125% at 5% or pay rate if higher | 125% at 6.75% | 125% at pay rate or 125% or 5.99% whichever is higher | 125% at pay
rate of 4.99% (whichever is higher) |
125% at pay |
130% at 7% | ||
Max Loan | £600,000 (75%) 1 Million (65%) |
80% up to £350,000 65% £350k to £1M 50% £1m-£1.5m |
£1 Million at 75% | £500,000 (70%) | £500,000 £1,000,000 - 70% |
£500,000 | 70% up to £1Million | £350,000 £300,000 - new Build |
£250,000 | £500,000
(75% LTV £500,001 - 1m (50% LTV) |
£500,000 -
75% £1,000,000 - 70% |
Min Loan | £25,001 | £25,0001 | £ 25,001 | £30,000 | £15,000 | £25,001 | £25,000 | £25001 | £25,001 | £30,000 | |
Max Term (years) | 30 | 35 | 40 | 40 | 25 | 25 | 25 years | 40 | 30 | 35 | 25 |
Min Term (years) | 10 | 5 | 5 | 5 | 5 | 3 | 3 | 5 | 5 | None | 5 |
Min. Lease (start) | 60 years | 55 years | 70 years | n/a | 80 years | n/a | 70 years | 80 years | |||
Min. lease (end) | 40 years | 35 years | Refer | 40 years | 50 years | 30 years at end | 30 years at end | 25 years at end | 40 years | n/a | 50 years |
Ltd. company applications? | No | No | No | No | No | No | No | 2 | No | No | yes |
Max Applicants | 2 | 2 | 4 | 4 | 2 | 4 | 4 | 2 | 5 | 4 | 4 |
Portfolio Limit | 3 properties with Aldermere mortgages / £1 Million | up to £5m | 3 BTL in Lloyds group plus 1 main residence, lending limit of £2M |
4 properties (regardless of lender)/£1.25m | £1m or 5 properties with Paragon Group | N/A | £3m / 10 properties | 10 properties | 5 properties at £500,000 | 3 with Coventry BS Group (subject to £1m Limit) - 10 Mortgaged properties in total |
£5m with paragon Group |
Portfolio Limit | Unlimited outside of group | Unlimited outside of group | n/a | Unlimited outside of group | Unlimited outside of group | £10 Million with Platform Co/op | Unlimited outside group | ||||
Lease created for (months) | n/a | Refer | unknown | n/a | Refer | 6 months | Refer | Refer | Refer | n/a | Refer |
Guarantors? | No | No | No | no | no | No | Yes - refer | No | No | No | No |
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Builder deposit accepted? | Max 5% | No | 5% | No | PP less deposit | No | Yes - but loan calculated on purchase price less deposit | Yes loan with incentives | Yes - But loan calculated on purchase price less deposit | Yes - applicant has to match discount | PP less deposit |
Vendor deposit Accepted | max 5% | No | No | No | PP less deposit | No | No | No | yes But loan calculated on purchase price less deposit | No | PP Less deposit |
Family gifted deposit accepted? | No | Yes | Refer | No | Yes - non repayable | Yes | yes | Yes | Yes | Yes | Yes - Nonrepayable |
Overpayments | 5% | 10% | 10% | Yes | no | 10% | 10% | 10% Max up to £1000 per months / Any on No ERC products | No | Normally 5% | No |
Offers valid for (months) | 80 days | 3 months | 1 year (but not valuation or rate) | 3 months | 2 months | 3 months | 16 weeks (8 week extensions x 3) | 90 days | 6 months | 6 months from application | 2 months |
Remortgage after (months) | 9 months | 6 months | 6 months | 6 months | 6 months | 6 months | Day 1 against original purchase price or valuation, whichever is lower | 6 months | 6 months | 6 months | 6 months |
Booking Fee | £0 | 0 | £199 | £99 | No | £99 | £89 | Some products | £250 non-refundable on application | £150 | |
Completion Fee | n/a | £0 | £275 | n/a | £0 | No | £0 | £0 | Some Products | Added to loan | £0 |
Can pay an arrangement upfront? | n/a | No | No | Yes | Yes | Yes | Yes | Yes | No - but can be paid within 14 days of completion | Yes | |
Must pay arrangement fee up front? | No | No | No | No | No | Yes | No | No | No | No | |
Arrangement Fee added to loan? | Yes | Added to loan | Yes | Yes | Added to loan | Yes | Can be added | Yes | yes | Can be added | |
Min. Value | £75,000 | £50,000 | £40,000 | £50,000 | £75,000 | £50,000 | £40000 | £75,000 | £50000 (75,000 in London | £33,333 | £75,000 |
Ex-local flat? | No | Yes - max 4 stories | Yes (refer to Colleys) | Yes | No | Yes | Yes - if more than 50% of block is privately | No | Yes - no higher than 5 stories | Yes 70% LTV | No |
New Build flat? | No | 65% | 65% | yes | Refer | 65% | Max 70% | No | 60% | Yes - 50 LTV (up to 3 years old) | Refer |
Lenders | Aldemere | TMW | BM Solution | Leeds | Mortgage Trust | Natwest | Northern Rock | Platform | Principality | Godiva | Paragon |
Ex-local house? | Yes | Yes | Yes | Yes | No | Yes | Yes - if more than 50% of area is privately owned | Yes | Yes | Yes - 70% LTV | Refer |
New build house? | Yes | Yes - valued as 2nd hand | 65% | Yes | Refer | Yes | Max 70% | 75% | 60% | Yes - 50% LTV (up to 3 years old) | Refer |
Studio flat? | No | 30m2 | Yes (refer to Colleys) | No | 30m2 | Yes | No - but refer to BDM if high quality | Yes | No | No | 30m2 |
Flat above commercial | Refer | Refer to lender | Yes (refer to Colleys) | No | Refer | Yes | No - But refer to BDM if high | Refer | Refer | Refer to Valuer | Refer |
Scottish/ N.I. properties | No | Yes/No | Yes/Yes | Yes/no | No | Yes/No | Yes/Yes | Yes/No | Refer | Yes/Yes |
Refer |
Max beds | Refer | 4 - refer if more | 5 | 5 | refer | N/A | Refer | Refer | No Refer |
Refer to Valuer - no HMO | 20 |
Max. storeys in block | No maximum as long as block has a lift over 4 stories | N/a - as long in a good block | 9 (may be more depending on area) | Refer | 4 (maybe more within Greater London) | N/A | 4 - but refer if good quality in town centre | 4 | Only restricted on ex-local authority | 10 (including any ground floor parking) - flats on 5th storey and above in block without lift access not acceptible | 4 (maybe more if within London) |
Min. applicant age | 21 existing landlord 25 Full Time landlord |
21 | 25 | 21 | 21 | 18 | 21 | 25 | 21 | 21 | 21 |
Max. applicant age | 85 (at end of mortgage term) | 90 (at end of mortgage term) | 75 (at end of mortgage term) | 70 on application, 80 at end of term | 65 on application, 80 at end term | 70 | 68 on application, 75 at end of term | 70 | 70 at end of term | 75 (at end of mortgage term) | 65 on application, 80 at end of term |
Min. income | No minimum income for experienced landlords,£25 for full time landlords | £0 | £25,000 | £20,000 | £40,0000 (joint) | total debt must not exceed 8x earned income | £25,000 - combined | £20000 | £20,0000 | £25,000 - single £30,000 | £25,000 |
Evidence required? | Yes | N/A | Yes | Yes | May require proof | yes | Yes | No | Yes | Yes | Yes |
Min. time employed | 3 months with current employer (1 year continuous employment | N/A | 3 months with current employer (1 year continous employment) | 6 months | 6 months | 6 months | N/a - refer for new starters, employers reference applied for if less than 6 months. | 6 months | Refer | 3 months | 6 months |
Min. time in self employment | 2 years | N/A | 2 years | 3 years | 2 years | 2 years | 3 years (2 years accounts or SA302s required) | 6 months | Refer | Require 1 year SA302 or 2 years account for limited company | 2 years |
Credit reference agency used FTBs? | Experian | Equifax | Experian | Equifax | Equifax | Equifax | Experian | Experian | Experian | Equifax | Equifax |
First time investors? | No | No | No | Yes | No | Yes | Yes | Yes | No | No | No |
Ex-pats? | No | No | First time Investors | No | No | No | No | No | No | No | No |
Foreign nationals? | Yes (must be residing in UK for 2 years and have permanent rights to reside | Yes - must be residing in the UK for 3 years and have permanent rights to reside) |
Yes (3 years remaining on work permit and have lived here for 3 years) | No | No | Yes with permanent rights to reside | Yes - with permanent right to reside | Yes - with permanent rights to reside | Yes - Depends on visa | No | No |
DSS? | No | Refer | No | Refer | Yes | No | No | No | No | Yes - let to the council/housing association direct | Yes |
Student Lets? | Yes (no more than 4) | Yes - under 1 AST | No | Refer | Yes | No | Yes - max of 4 tenants under 1 AST | Yes -under 1 AST | Yes - under AST | Yes - under 1AST | yes |
Holiday homes? | No | No | Yes | Yes | No | No | No | No | Yes - under 1 AST | No | Yes |
Let to family? | No | Yes - will be treated as a residential cannot be let to exowner |
Yes | Yes - but treated as a residential for affordability | No | Yes | Yes - but treated as a residential for affordability |
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Yes | yes - only as a new purchase and true rent paid | No |
HMOs? | No | Yes | No | Yes (up to 5 beds and must have license) | No | No | No | No | No | No | yes |
Let to Buy | No | Yes | Yes | Yes | unknown | No | Yes | No | n/a |